Jul 7, 2016

CLOSING TECHNIQUES OF THE SALES CALL


Closing is the essence of selling. Selling is closing. If there is no close, there is no sale. A sales call that does not result in a sale, or in a commitment to action that will lead to a close, is a failed sales call.

Closing is an art of asking for an order, including asking questions in such a way that the customer sells himself on the benefits of the product.

Closing is the art of uncovering and satisfactorily answering objections so that the customer sees the benefits of the products as filling his needs.

As the old saying goes, “Nothing happens until somebody sells something.” And no sale happens until somebody closes the sale.

Finally it is often said that the 3 most important words in a real estate are “location”, “location”, “location.” The 3 most important words in selling are “listen”, “listen”, “listen.”

CLOSING CONCEPTS
Closing sales call is a tough task for a sales people if the sales call is not well prepared. There are many instances that I have seen and experienced during my sales call when the matter comes to closing stage.

Once I happened to meet a good potential customer and the closing decision was at final stage. All the required and necessary information was submitted to the customer for proceeding towards next step. Even the customer informed me that my proposal has been submitted to the Managing Director for approval to release the first trial order. But unfortunately, I have not received any order or information from customer till a week time.

I decided to make a visit to the customer and contacted the concerned person about the proposal that has been submitted to M.D. for approval. In fact customer wanted to know about few technical parameters about withstanding capacity of temperature (heat aging properties) of the product to the particular application where the product was suggested. I explained and gave him the details of temperature technical data sheet to proceed further. I also received the first trial order and after trial order received half yearly order for the same application.

Now, I just wanted to tell you where I went wrong in my closing sales call? Why I did not receive order the very next day?

After post call I realized that following are the mistakes I did at the time of closing my sales call.

I have not discussed on temperature of the product though the customer was insisting on that.

The reason is I was not prepared for Technical Data Sheet except only on selected main technical details.

There was no follow up by me after my visit.

Finally, I did not listen properly and I failed in listening to the customer. I was talking a bit more and could not note down few tips during discussion period. This made me to fall down and I was about to lose my valuable order. So it was just an example that helped me to improve my future calls. Hence, listening is most important sales tool for sales people in every sales call. Generally the effective salesperson…….

The effective salesperson understands the value of his customer and the benefits of the product or service being sold. The effective salesperson is always thinking of imaginative ways to describe and show the product benefits and values as they fit the needs and objectives of the customer. If a customer will truly benefit from a product and doesn’t buy, the salesperson must shoulder the blame for not explaining the benefits in an educational way.

Always assume the sale has been made.

Buyer questions and objections are by signals and should be answered in the form of questions. Some of the questions can be trial closes or tie down questions.

After you have identified the correct objective and established trust, close continuously throughout the sales call. Do not wait until the end of the interview to ask for the order. (Use the various closing technique questions outlined in this program.)

Great sales people prepare their sales call with great care. They prepare key closing questions in advance. Often, they build and plan the entire sales call around 1 or 2 considered and practiced closing questions.

Consider, write down, and practice closing techniques and questions exactly as you intend to use them.

Silence is a powerful closing tool.

Pauses- another use of silence- are powerful closing tools.

It is very rare to close a sale if the buyer voices no objections, or does little, if any talking (another powerful use of silence). The effective sales person anticipates objections, encourages buyer’s question and objections, and carefully pre plan how to handle the objections. An unspoken objection is an unanswered objection. There is no sale until all objections are answered.

Encouraging a buyer to evaluate your benefits proposal, or to watch a demonstration, or to test the product, or any type of buyer involvement… and then to suggest that the customer judge for himself is a powerful closing technique.

A closing question is one that when answered by the buyer confirms that he has bought or that he has begun a mental commitment to buy.

If you don’t close the prospect, another sales person will.

You must be able to hear “no” at least five times. You must be prepared to be rejected at the first four or five sales calls. 75% of new buyers are sold on the 5th or subsequent sales calls.

The average sales person knows two closes, and uses one.

Closing the sale starts when the customer starts talking. The goal is to get the customer talking in a friendly non adversarial way. An indifferent, silent customer is the most difficult sale. The good salesperson prepares several open ended high involvement probes.

Slow, Tell, Involve and commit is a big closing technique.

DIVIDE AND CONQUER CLOSE

This close works simply by taking the product’s price and dividing that by increasingly smaller units of time over the life of the product. It has several applications including dividing the price of the product by the number of parts produced during the life of the product.

INSTANT REVERSE CLOSE

This is a very effective close and can be used in all kinds of situations. It’s particularly useful to handle a customer’s most important objection. However, as with other closes, the sales person should not over use this technique. It can only be used once in a sales call, and should be reversed for the tough objections. Anticipate the objection a pre plan. The instant reverse close usually has a stunning impact on a buyer and always gives the sales person a chance to introduce a creative benefit.

Buyer: “Your product is very expensive”.

Sales person: “Yes, it’s not cheap and that’s exactly why you should be using it. Would you like to know the reason why?”

(Then pause and wait for his inevitable “yes”. Then move into an explanation of the quantifies benefits of the product, showing the customer the true total value and return he will get from your product)

Buyer says, “I don’t have the time to talk to you”

Sales person: “Yes, you are busy. And that’s exactly why you must talk to me. You can save $1000 a minute by hearing my recommendation. When can we get 5 minutes?”

CONTRADICTION CLOSE

This is a starting and intrusive closing technique, similar in style to the instant reverse close. This is arguably the most powerful of all the closes. It eventually forces the sales person and the customer to evaluate the benefits of the offering. This close puts the emphasis on what the customer gets out of the product, not on what the product is, or the cost of the product.

This is a great close for the confident, prepared super sales person. In this situation, the salesperson responds to the objection by offering a totally opposite position. For example:

Customer: “Your prices are incredibly expensive!”

Sales person: “Actually Mr. Customer our product is the least expensive in the market. If I can show you how our product- based on its return to you- is the least expensive or best value product in the market, would you give it a good luck?”

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